WPX Energy Announces Upsize and Pricing of Senior Notes

TULSA, Okla.–(BUSINESS WIRE)–WPX Energy (NYSE: WPX) announced today that it has priced its public offering of $500 million of its 5.750% Senior Notes due 2026. The notes were priced at 100.000% of par. The offering was upsized from the previously announced $400 million aggregate principal amount and is expected to close on May 23, 2018, subject to customary closing conditions.

The net proceeds from the offering will be approximately $493.7 million after deducting underwriting discounts and commissions and before estimated offering expenses payable by WPX. WPX intends to use the net proceeds from the offering to fund the purchase of up to $400 million aggregate principal amount of its outstanding 6.000% Senior Notes due 2022 and 8.250% Senior Notes due 2023 through cash tender offers and the planned redemption of its outstanding 7.500% Senior Notes due 2020. Any excess net proceeds will be used for general corporate purposes, which may include the repayment or redemption of outstanding indebtedness.

Citigroup and BofA Merrill Lynch are acting as lead book-running managers for the offering.

The offering is being made pursuant to an effective shelf registration statement of WPX previously filed with the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and the accompanying base prospectus. Copies of the preliminary prospectus supplement for the offering and the accompanying base prospectus may be obtained by sending a request to:

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The tender offers are being made solely pursuant to WPX’s Offer to Purchase dated May 9, 2018, and this press release does not constitute an offer to purchase any securities.

This press release does not constitute a notice of redemption for the 7.500% Senior Notes due 2020, which will be made pursuant to the requirements of the indenture governing such notes.

About WPX Energy, Inc.

WPX is an independent energy producer with core positions in the Permian and Williston basins. WPX’s production is approximately 80 percent oil/liquids and 20 percent natural gas. The company also has an emerging infrastructure portfolio in the Permian Basin.

Advisories & Contact

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, those regarding the proposed offering, the anticipated closing date of the offering and the use of proceeds. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of WPX. The forward-looking statements in this press release are made as of the date of this press release, even if subsequently made available by WPX on its website or otherwise. WPX does not undertake and expressly disclaims any obligation to update the forward-looking statements as a result of new information, future events or otherwise. Investors are urged to consider carefully the disclosure in our filings with the Securities and Exchange Commission at www.sec.gov.